Ifa Foundation

Nonprofit profile at a glance

EIN
363655118
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2020
Location
Ormond Beach, FL, USA
Phone
3862146489
Rating
56
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$184,031
Expenses
$47,100
Assets
$477,890
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • Vassa Neimark (President CEO)

People named in this filing

  • Vassa Neimark (President CEO)
  • Tanya Husain (Board Member)
  • Glenn Marlon Lewis (Board Member)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Ifa Foundation's mission is to continue educating people from across the globe about the importance and benefits of the ancient philosophy of Ifa through the programs offered inside the Sacred Orisa Gardens known as Ola Olu; through the Spiritual Retreats held inside the gardens; Through quarterly workshops inside the gardens; through the weekly programs on zoom; through the courses held online; through the educational services held online; through the books written on the subject of Ifa; through the YouTube and social media educational materials being written and provided.

What it reported doing in 2024

Provide basic and advanced training about the Ifa practices

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 25
  • Transparency & Controls: 83
  • Accountability: 82
  • Sustainability: 89
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 13.3%; rating input score 13
  • Program expense ratio: 52%; rating input score 52
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 74.4%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 10.15; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -7.4% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: -5.2% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: -2.8% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 13.3% of revenue deployed · 52% of spending went to programs
  • Governance: 5 of 5 board members independent · 4 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $24K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 41 of 42 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 13/100.
  • Review — Financial Efficiency: Program expense ratio scored 52/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.